AGREEMENT
This Agreement is entered on ________________ 2022 by and between
___________ (hereinafter referred to as the “Owner”) and ______________
(hereinafter referred to as the “Purchaser”). Together referred to as “Parties.”
WHEREAS the Owner is in the business of screen printing and embroidery; and
WHEREAS the Purchaser is desirous of taking over/purchasing the screen-printing
equipment;
It is hereby agreed as follows; –
1. Screen-printing Equipment Details.
The following are the details for the Screen-printing equipment for the lease
takeover; –
2. Payment.
Parties agree that the Purchaser shall pay the Owner a monthly payment of $438.54
from October 10 th, 2022, until payment in full.
The payment will be made via Zelle for six months on the 10th day of every month.
3. Possession.
After the complete payment of the above, the Purchaser’s name will be transferred
onto the contract, and he will continue to finance the remaining balance in his name.
4. Dispute Resolution.
In case of a dispute or conflict between the parties regarding the interpretation or
performance of the terms herein, the parties shall initially try to resolve the conflict
through litigation in a court with competent jurisdiction.
Parties shall cater for their legal costs.
5. Governing Law.
This agreement shall be governed and interpreted in accordance with the Laws of
the State of California.
6. Termination.
The Owner herein can terminate this agreement with prior one-month written notice
in the event the Purchaser defaults in making more than one month’s payment.
7. Assignment.
The duties and responsibilities herein shall not be assigned to any third parties
without the prior written consent of the other party.
8. Entire Agreement.
The terms and provisions herein constitute the entire and complete agreement
between the parties in relation to this subject matter. It supersedes any prior written
or oral agreements, promises, or undertakings.
9. Severability.
Suppose any provision of this agreement is deemed invalid or unenforceable. In that
case, the same shall be severed from this agreement, and the remaining provisions
shall remain in full force and effect.
10. Amendment.
Any changes or amendments to this agreement shall be in writing and signed by
both parties to be binding and enforceable.
IN WITNESS WHEREOF, the parties have executed on the date indicated below;
By the OWNER; –
Name:
______________________________
Designation:
_________________________
Signature:
___________________________
Date:
_______________________________
Email Address:
By the PURCHASER; –
Name:
______________________________
Signature:
___________________________
Date:
_______________________________
Email Address:
_______________________
_______________________
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